India, April 3 -- justify;">A personal loan can be used to fund various expenses, as it typically does not require collateral. An application can be made with a bank where there is an existing relationship, a new bank or an NBFC.

If applying with a bank where there is an existing relationship and the credit profile meets certain criteria, a pre-approved personal loan offer may be available. This blog covers what this means and how eligibility is determined.

A pre-approved personal loan is a loan offer extended by a financial institution, like a bank, to select customers based on their existing financial relationship and credit profile. This means the lender has already assessed the profile using data such as:

Because this evaluation is...